Lafayette Federal Credit Union is one of the premiere financial institutions in the Washington, D.C. area, including branches in Maryland and Virginia, plus nationwide shared branches and surcharge-free ATMs. Since our founding in 1935, we have sought to provide our members with a safe and convenient place to save, and to offer loans at... show more
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Lafayette Federal Credit Union Reviews
The WalletHub rating is comprised of reviews from both WalletHub users and ratings on other reputable websites. The rating was last updated on 11/07/2025.
3.1
59 reviews
from WalletHub and across the web
59 reviews from WalletHub and across the web
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Lafayette Federal Credit Union
sheldon_samuels @sheldon_samuels
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1 Star Rating
Do not conduct business with LFCU. You are required to send them $50 to open an account to secure a loan. However, once the loan is repaid, they won't close the account without a copy of your driver's license sent via email or fax, both of which are unsecured methods. I have never encountered a bank or credit union that demands a copy of my driver's license be sent through an unsecured channel to access my own funds. I refuse to ever do business with this credit union again and want others to be aware that retrieving your funds may be difficult if you send them your $50.
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Product: Lafayette Federal Credit Union Personal Loans
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Lafayette Federal Credit Union
chads_place @chads_place
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2 Star Rating
They have charged me $30 fees repeatedly for insufficient funds when I transfer money from checking to savings within Lafayette itself. When I call them, they are unwilling to reverse the fee. They give me an account minimum story, but it is always changing. I have very large CDs with them, but still, there is no consideration. After my CDs are up, I will never bank with them again.
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Product: Lafayette Federal Credit Union Savings
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Lafayette Federal Credit Union
Michael Zeitlin @mdz58
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1 Star Rating
When I opened my CD I requested ALL monthly dividends be transferred to my savings accounts on a monthly basis. So far this has not happened without my having to contact LFCU, the last time I was informed “Dividends can be transferred at any time, but there will be a penalty if the loan has not full matured including the dividends earned on 06/30/2025.” TOTAL CONFUSION, I still am not confident that all earned dividends will be transferred as requested on a monthly basis.
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Product: Lafayette Federal Credit Union CDs
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Lafayette Federal Credit Union
joseph Cornetta @joecornetta
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1 Star Rating
Scam company! Do not use! We borrowed 31,000 in 2023. After making payments and trying to pay down the interest, we still owe 29,600. This is a predatory lender. You get better rates from the mob. If a contractor recommends this company for home improvement, fire the contractor.
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Product: Lafayette Federal Credit Union Personal Loans
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Lafayette Federal Credit Union
Anonymous @Anonymous
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5 Star Rating
I opened a new account yesterday at the Greenbelt, MD Branch. I was rewarded with a great experience. Brittney was the representative that assisted me - she was cordial, knowledgeable, helpful, and quick! CW
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Product: Lafayette Federal Credit Union Checking
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Lafayette Federal Credit Union
Frank Anello @fanello1775
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1 Star Rating
You cannot make principal-only payments. Despite trying to pay back a loan that already had thousands of dollars in fees added, they are still hitting me with "finance charges" for the early payments.
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Product: Lafayette Federal Credit Union Personal Loans
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Lafayette Federal Credit Union
paul BLAYLOCK @PaulB123
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1 Star Rating
First, they apply additional payment to interest even if you put the amount in the 'principal only' line when making a payment. After many attempts, I got someone on the phone who admitted they do this automatically regardless of how you want the additional funds allocated.
Second, the online payment service seems to be intentionally complicated. There's no other explanation for it being so troublesome. You have to verify your identity to log in, which is fairly standard. You can do so by a 6-digit code via text, which is still pretty standard. Then, when you go to make your payment, they make you verify your identity again. Just 30 seconds after doing it once, you have to do it again. And this time, it has to be by email. You have to wait 60 seconds before you can request a new code. Be advised, the timer resets each time you hit 'send email'. Then, you get logged out of the system for inactivity while you wait and have to start all over. The email may or may not arrive in your inbox.
Need to contact customer service? Good luck. You'll never get anyone on the phone. They may call you back if you manage to reach the voicemail option. Emails tend to work better for getting in touch, but you'll get a two-sentence response in which they will essentially indicate they do not care. I'm not joking. My last response was, "After reviewing your account, we see you were able to make a payment. Let us know if you need anything else." That was their response to my request for assistance with finding a better payment method. The email I sent was as long as this review. That's the response I received. No other option was discussed or offered. Not even an apology for the trouble I had while trying to make a payment. Nothing.
This company simply does not care.
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Product: Lafayette Federal Credit Union Personal Loans
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Lafayette Federal Credit Union
shannon taylor @tshanana7
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1 Star Rating
We had 2 loans with Lafayette that we paid off. We figured we would give them a try again because we had minimal issues with them the first time. However, this time was much different. It took 3 days to hear from them. Then we received a message at 10pm from them asking for tax returns. We found it odd because none of our personal info had changed since the other loans had been paid off. However, we responded with a question that got ignored. Called twice and got no call back. Submitted the tax returns and still nothing. They pulled our credit and we suffered an inquiry. Today we went to our regular credit union and was approved instantly! Do better Lafayette!!
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Product: Lafayette Federal Credit Union Personal Loans
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Lafayette Federal Credit Union
mgconslts @mgconslts
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1 Star Rating
I would give negative stars if I could. Beware of off the chart penalties for early withdrawal on Lafayette Federal Credit Union CDs which are hidden when the CD accounts are open. They can be up to almost a 2 year penalty for a 5 year CD. I looked up the available balance on my 5 year CD I opened last year and it was the full balance yet Lafayette Federal Credit Union has given no indication it will honor it. They also had the option to waive the early withdrawal penalty for emergencies which they do not do. The NCUA and other regulators are investigating my complaint.
I had all kinds of issues opening the account and never got it resolved when I emailed LFCU leadership. I had a family emergency which meant I needed to cash in the CD early. Top my surprise, they had a 600-day penalty for early withdrawal on my CD. I don't recall seeing this when I opened the CD. You will not see this in the certificates section of the LFCU website lfcu.org/personal/certif…. Hidden on the LFCU website is all the penalties for early withdrawal. lfcu.org/files/Fixed-Rat… There are plenty of banks out there with similar or higher rates with far lower penalties for early withdrawal. You can even get similar rates on US Treasury Notes with no state tax and no penalty for early withdrawal. LFCU says it is Member-Owned, Not-for-Profit -You're a member AND an owner at Lafayette Federal. We treat our members as unique individuals with specific needs and financial goals. We are member-owned, not-for-profit, and community-minded. This couldn't be further from the truth based on my experience. The penalty for early withdrawal section shown above which I don't recall seeing when I opened the CD says LFCU MAY impose a penalty for early withdrawal. They want to impose a huge penalty and this is after escalating to LFCU leadership.
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Product: Lafayette Federal Credit Union CDs
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Lafayette Federal Credit Union
Kevin @kevinl4
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5 Star Rating
Verified Customer
Pretty easy Loan process with decent rates, approved almost immediately. Loan was for a swimming pool. My family and are thoroughly enjoying.
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Product: Lafayette Federal Credit Union Personal Loans
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Lafayette Federal Credit Union
Mister Handy @Handee23
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1 Star Rating
Beware they charged double. 9.99% annual plus monthly fee per day $17, if you don't have payment due they still charge u for how many days or months you didn't pay eventho there's no due date. This is Terrible bank ever we dealt with. Stay away, not worth of your time and money to get loan or get bank from them.
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Product: Lafayette Federal Credit Union Personal Loans
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Lafayette Federal Credit Union
dualpcs @dualpcs
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2 Star Rating
Verified Customer
Let me start by saying avoid this place at all costs. The customer service is horrible, consistently. Every time I call, it's the same. I get transferred to wrong departments, get disconnected, and have to wait in queue for a ridiculous amount of time.
I have to call numerous time to get one task done, becuase the request gets lost or not submitted at all. The way the apply payments to loans seems uncommon. I pay extra principle each month, but when I do, my next-due payment decreases instead of saying the same. If I pay double what is due, my next payment due date gets extended a month- seems like my extra payment is going to interest instead of principle, somehow, and they want me to call EVERY month to fix it.
Nothing but problems with this place! Just horrible.
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Product: Lafayette Federal Credit Union Personal Loans
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Lafayette Federal Credit Union
Erika Hedin @erikahedin
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1 Star Rating
Terrible customer service. Their online banking doesn’t work and they never call you back or respond to email.
I regret ever opening an account with them.
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Product: Lafayette Federal Credit Union Checking
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Lafayette Federal Credit Union
adrianalikemar @adrianalikemar
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1 Star Rating
LFCU provides decent service but is disorganized, understaffed, and not convenient to bank with. I've had difficulties with LFCU at numerous branches on many occasions.
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Product: Lafayette Federal Credit Union Checking
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Lafayette Federal Credit Union
Everette Orr @Everette1
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1 Star Rating
On-line account services have not worked, for over a week, since Thursday, February 24, 2022 when Lafayette Federal Credit Union closed the old on-line system to install a new one.
The new system was supposed to be functioning on Tuesday, March 1, but the new system is not functioning because it does not allow access. When you try to sign into your account, the system says that you must used the verification code that they send you in an email. However, the system never provides the verification code to access the system.
I have called account services, which is almost impossible to access, and I have sent emails to support services. In both cases, they have not responded with help.
I have been with Lafayette since 1985, but I am now for the first time likely to change credit unions just to achieve basic services.
If you are looking for a credit union that can provide basic services, I would strongly encourage you to seek better services somewhere else, like Navy Federal Credit Union.
Get answers to your questions about Lafayette Federal Credit Union below. Editorial and user-generated content is not provided, reviewed or endorsed by any company. Please keep in mind that it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Lafayette Federal Credit Union has several branch locations primarily serving the Washington Metropolitan area, including Maryland, Virginia, and DC. Additionally, they have announced that new branches will be opening soon in Fallsgrove, Maryland.
Currently, Lafayette Federal Credit Union does not have any branches in Rhode Island. It primarily operates branches in Maryland, Virginia, and D.C.
If eligible, you can apply for Lafayette Federal Credit Union membership online. To find the nearest branches and ATMs, visit Lafayette Federal Credit Union's website or contact their customer service at (800) 888-6560.
You can check the best CD rates available to ensure that whatever decision you make really fits your goals.
The NCUA's Share Insurance Fund separately protects members' IRA and Keogh retirement accounts up to $250,000, separate from other account types, such as individual or joint savings and checking accounts, which are also insured up to $250,000 per depositor.
For the most up-to-date information, refer to Lafayette Federal Credit Union's website or contact their...
The membership requirements at Lafayette Federal Credit Union include geographic location, employment, family ties, or association affiliation. Here's a clear breakdown of the requirements:
Geographic Location: You are eligible if you live, work, worship, or attend school in Potomac, Maryland, or specific parts of Washington, D.C.
Employment: Membership is open to employees or retirees of one of Lafayette Federal Credit Union's Select Employer Groups (SEGs). These include organizations such as the U.S. Department...
Yes, a Lafayette Federal Credit Union account is NCUA-insured up to $250,000 per customer, per account ownership category. This means that even if Lafayette Federal Credit Union fails, you will eventually be able to recover an individual account's balance up to $250,000.
If you have a joint account, each co-owner of the account is considered a separately insured customer. As a result, you can collectively recover the account's balance up to $500,000 in the event of a...
Lafayette Credit Union mainly uses Equifax for credit card approval. So, before applying for a Lafayette Credit Union credit card, make sure that there is no freeze on your Equifax credit report. You can also visit annualcreditreport.com to get a free copy of your Equifax credit report, if you want to check it before applying.
After approval, your Lafayette Credit Union credit card activity will be reported to the three major credit bureaus: Experian, TransUnion and Equifax.
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